The Arab Monetary Fund inaugurated the 32nd regular meeting of the Arab Committee on Payment and Settlement Systems, held virtually with representatives from Arab central banks and regional and international financial institutions, to discuss regional and international developments in payment systems amid the accelerating shift toward digital payments. Discussions covered instant payments and measures to enhance the efficiency and speed of cross-border payments, with particular attention to the role of remittances in regional economic activity. The agenda also included regulatory and supervisory topics such as Buy Now, Pay Later services, cybersecurity requirements, and strong customer authentication, alongside forward-looking supervisory priorities on asset tokenization, digital asset-based financial infrastructures, and the use of artificial intelligence in overseeing payment and settlement systems. The Director General Chairman of the Board, Dr. Fahad M. Alturki, highlighted the importance of strengthening cooperation and sharing expertise and international best practices among Arab central banks and relevant institutions.
Arab Monetary Fund 2026-03-26
Arab Monetary Fund convenes 32nd Arab Committee meeting on payment and settlement systems with focus on instant and cross-border payments
The Arab Monetary Fund opened the 32nd meeting of the Arab Committee on Payment and Settlement Systems, held virtually with Arab central banks and international institutions, to review developments in payment systems amid accelerating digitalisation. Participants discussed instant and cross-border payments, remittances, and regulatory and supervisory issues including Buy Now, Pay Later, cybersecurity, strong customer authentication, asset tokenization, digital asset-based infrastructures, and use of artificial intelligence in oversight.